Monday, April 11, 2011

Two Views of the Current State of the Music Industry

A couple of weeks ago, I took part in a great panel discussion called “Taking the Pulse of the Music Industry.” The panel, held at Trevecca Nazarene University in Nashville was intended to help the students in the music business program get some perspective on career paths in the changing music industry.

I was excited to find that I was on the panel with Kissy Black who runs the company Lotus Nile Media. At one point in the not so distant past one would have referred to Kissy as a publicist, but she is much more than that. She is a 21st century marketing guru and an evangelist for convincing artists to take hold of their careers and promote themselves. Her explanation of how artists and entrepreneurs can and should use the internet to promote their careers, manage their fan bases and distribute their product was brilliant. I left that night feeling like I had seen the future of the music industry and it was going to be OK.

A week or so later, on April 4, I read my friend and fellow lawyer Steve Weaver’s blog post which cited a survey conducted by Reverb Nation and Digital Music News. The poll found that “3 out of 4 artists would love to be signed to a recording agreement.”

It’s an interesting dilemma; for the first time ever, many types of artists are not dependent on the major label platform (or the independent label platform for that matter) yet 75% of artists surveyed still apparently yearn for that traditional avenue. It’s hard to know how to advise artists in this climate. I can see both sides of this issue but I remain energized by Kissy Black’s presentation and what the future holds for artist and entrepreneurs.

2 comments:

Hi Trip. I totally understand how you feel! Some days I am all about do-it-yourself music business! And others I am hoping to come up with ideas to save the traditional approach. I suspect there is a place for both. At least now there is a viable option for the artists who do not sign with a major label.

It would be great if the school would post a video of that panel discussion - if there is one. Do you know?